Level Importance
- Some levels are fought over, some are established. Pay attention to established levels, as these will yield intraday reversals.
- HOD, LOD, prev. HOD, LOD or pre-market Extremes are all super important, and should be looked at actively when trading F.B.
- Look for 2nd tests, to be more precise, and often B instead of F.B.
- New Daily Extremes! Super important.
- Low of first hour (when volume is highest)
- High of first hour (when volume is highest)
Important:
Its probably a good idea to avoid trading off any intraday peaks or lows if they are not matched by something in pre-market or intraday history of previous sessions.
Exceptions to this are FHH/FHL and O, as well as daily extremes.
By the way... (see next chart). Cool huh?
So in a nutshell pay attention to:
- High & Low of first hour
- High & Low of pre-market
- New extremes formed during the day
- Any well established levels on pre-market
- Global levels that had F.B or B against it recently (1-2 days)
Unrelated Observations
